Baby Steps

Now David, I’m excited to get started! But how exactly Do I get started? I here you ask. This is a question I am often asked, usually several times a week. In life, I like to say that anything that holds true value is going to require some work. Luckily, I am here to hold your hand and get you started on this journey, but you are going to be the one who decides your own level of involvement.

The simplest way to get started would be to open a personal brokerage account. Personal brokerage accounts allow you put in some of your money and allow you to purchase stocks. They allow you to do much more but for now lets focus on the basics. You have many options before you and most of them are free and relatively easy to set up. I personally like E*Trade. No this is not an advertisement or paid promotion, I am simply telling you which platform I have used for over 3 years. Once setting up an account you can buy stocks from your phone or computer. There are benefits to using your computer though. On the PC, E*Trade has an option called power E*Trade which gives you access to enough tools and charts to make your head spin. In time you will find your favorite tools and it will become easier to navigate. When I was in the US Navy I routinely advised many high ranking officers on the stock market. One such officer used a different trading platform than I did and i was shocked to learn that the tools I used for free, he was paying a 15 dollar a month subscription for on his platform.

As eager as you may be to set up your account today and hop into the market, I urge you to take a look at some of the books that have personally helped build my foundational understanding of the market. The first book I recommend is Rich Dad Poor Dad by Robert Kiyosaki. Robert Kiyosaki is a well respected entrepreneur and business man. I have read many of his books and I find this one to be worth its weight in gold. This book perfectly showcases the mentality that you must adopt when investing. This book is so informative I recommend all adults read it. Do you need a gift Idea for this upcoming Christmas for someone? Buy them this book, and make them read it. Until they have read through the book, the will not truly understand the value of this gift. The second book I recommend today is Understanding Stocks by Michael Sincere. It is a very easy read and extremely important. one of the first chapters is called: What is a Stock? This book assumes you have no prior knowledge but builds a strong foundation and by the end of the book gives you a very good, well rounded knowledge of the stock market.

I have recommended these books to many people over the years. While there are many others I suggest people read, these i find to be the most important ones to start with. Now it is up to you to decide how and when to take your first steps. How well do you want to understand investing and making money? Most people find it’s easier to have me manage their money for them, and while I may offer that service in the future, I ask you a very simple question. isn’t gaining the ability to make yourself thousands of dollars or more, worth spending some of your time reading?